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Nairaland Forum / Nairaland / General / Business / FEC Approves Tax Incentives For Dangote (44072 Views)
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Re: FEC Approves Tax Incentives For Dangote by obailala(m): 9:07pm On May 18, 2016 |
talk4free:Lol... I think you would have to seek and get approval from the govt first before you proceed with changing electric poles on your street. I strongly believe Dangote must have been fighting for this approval for a long time before getting it today, even state governments that want to build federal roads do seek approval before they proceed. If you like, you can go buy the poles, but OYO may be your case. |
Re: FEC Approves Tax Incentives For Dangote by Nobody: 9:07pm On May 18, 2016 |
modath:Dangote should NEVER think of joining politics or dream of becoming the President of Nigeria one day else MKO Abiola treatment awaits him... |
Re: FEC Approves Tax Incentives For Dangote by oludare007: 9:07pm On May 18, 2016 |
modath:I am sure he wasn't rasing up hisbtruck and smashing it in the road to 'dmage' it with intent. The govt is responsible for repairing any damagedbroad, so far it is without intent because he pays his tax! And if there is an agreement to calculate his tax and use it to order cement from him to build the road, that is not a problem. |
Re: FEC Approves Tax Incentives For Dangote by Bigdocemo(m): 9:09pm On May 18, 2016 |
ilawanson44:I'm categorically telling you that he doesn't use the lower quality cement to construct the road, the cement the company uses in constructing the little known road I know he constructed was purely good. |
Re: FEC Approves Tax Incentives For Dangote by modath(f): 9:10pm On May 18, 2016 |
Popri: Babe, the guy paid 1% tax for 5yrs straight! Naija for show!!! |
Re: FEC Approves Tax Incentives For Dangote by freshdude99(m): 9:10pm On May 18, 2016 |
gabbytabby:Just imagine? Later ur likes will come out and say he's a graduate too! Graduate with out common sense |
Re: FEC Approves Tax Incentives For Dangote by nextstep(m): 9:10pm On May 18, 2016 |
Stalwert: He cannot be the worlds' richest without providing something of value. In other words, he is rich because of what Nigerians have given to him (profits). In turn, he has given Nigerians commodities and cement. I argue that what he has given to Nigeria is far more than what Nigeria has given to him, in terms of products, jobs, efficiencies, investments, and pride; and he has been rewarded by the market for it. 3 Likes 1 Share |
Re: FEC Approves Tax Incentives For Dangote by saintdennis(m): 9:11pm On May 18, 2016 |
OlujobaSamuel:Smiles lagos irs boss is now @ d federal level (firs) just watch how companies will be Sealed up if they try to form smart |
Re: FEC Approves Tax Incentives For Dangote by 2n2k(m): 9:15pm On May 18, 2016 |
modath: @ bolded. Dangote annual TURNOVER is not yet up to a trillion naira talkless profit. Providing water, local roads, or school for the environs where his factories are, is understandable CSR but constructing interstates trunk A national road? Mba. The depot owners along Apapa axis are not asked to reconstruct Apapa expressroad, why should Dangote? 2 Likes |
Re: FEC Approves Tax Incentives For Dangote by Nobody: 9:17pm On May 18, 2016 |
modath:I can still remember vividly, the road was not in total good condition before the arrival of the cement factory, only that it got worse after the factory was built and heavy duty truck Started using the route. But I think this is a good development if company like dangote tax can be diverted to infrastructure that will benefit Nigerians and safe life than paying the tax into government account where some people will syphon it for there own good. 2 Likes |
Re: FEC Approves Tax Incentives For Dangote by chigoizie7(m): 9:18pm On May 18, 2016 |
Stalwert: Owing to the usage of that road by his factory + so many profits derived from that factory, building that road should be part of his social/societal obligations to the society where his business operates. I think social responsibility to host communities by multinationals is legal. I don't know why FG is adding another incentive again. Any ways, na his luck, after all no be him tell our govt officials to be mùmu. |
Re: FEC Approves Tax Incentives For Dangote by mark3009(m): 9:18pm On May 18, 2016 |
modath:Why do think it is his responsibility to fix the road? Is that not why he pays tax. F. Y. I. Businesses pay tax to the government so the govt can provide needed infrastructure (roads inclusive). |
Re: FEC Approves Tax Incentives For Dangote by Paretomaster(m): 9:19pm On May 18, 2016 |
and work has commenced already, by AG Dangote construction ....
hopefully we will b free from d dusty road.. |
Re: FEC Approves Tax Incentives For Dangote by owanedo: 9:22pm On May 18, 2016 |
TonyeBarcanista:don't worry about the specification and other details, you are not more Informed or patriotic than those who signed the deal, they know better than you. it's not every thing you criticize. tax incentive is normally used by govt to encourage investors. 3 Likes |
Re: FEC Approves Tax Incentives For Dangote by freshdude99(m): 9:23pm On May 18, 2016 |
Nigerians will regret having BRT as their minister of work and power. Bringing all the shady deals he did with all those multinationals in Lagos as a governor to the centre won't spell good for us. No sentiment attached but that's the feelin I get wen without improved power, yet he increased tarrif, now we don't even talk of affordable housing anymore. Abi that fuel prices... Abeggiii |
Re: FEC Approves Tax Incentives For Dangote by Aseneshii: 9:23pm On May 18, 2016 |
You will prefer him not building a refinery and we keep importing right ? If not for Dangote how much do you think a bag of cement wou'd have cost now ? Forget sentiment dangote is a blessing to Nigeria. How many roads did Nigerian brewery and coca cola build with their haulage trucks all over Nigeria roads. ColeworldMD: 1 Like |
Re: FEC Approves Tax Incentives For Dangote by modath(f): 9:25pm On May 18, 2016 |
2n2k: Relax, I'm not a Dangote hater, he does what any sane business person would!!! His company made 1trillion profit for him in 5yrs, I didn't dream it up, they put out a press release... will get a more compact link later, "manage" this for now. http://nairametrics.com/and-heres-a-recap-of-this-weeks-trending-stories/ 1 Like |
Re: FEC Approves Tax Incentives For Dangote by freshdude99(m): 9:26pm On May 18, 2016 |
owanedo:In some cases we do know better oga. Its not rocket science I guess to Sa the least and come to think of the lies and deceits we have seen so far from this govt, I calls for concern. So don't blame no one for raising his voice |
Re: FEC Approves Tax Incentives For Dangote by skondo09(m): 9:29pm On May 18, 2016 |
Fashola did one meaniful thing since office assumption, in his mind...'We are all crawling after slowbubu' |
Re: FEC Approves Tax Incentives For Dangote by noblebaba: 9:31pm On May 18, 2016 |
That is not the only road that should be repair by Dangote ,on daily basis more than 1000 Dangote trailers plies Papalanto-shagamu road. Coming from Ibese factory to supply other part of the nation Honestly if you pass that road in Ogun state u won't believe you are in Nigeria its a death trap OGa Fashola consider that road too |
Re: FEC Approves Tax Incentives For Dangote by obailala(m): 9:31pm On May 18, 2016 |
modath:So much ado about Dangote getting forex to build a cement factory in Congo. If not from the CBN, where was he going to get the forex from?.... All the foreign companies that set-up plants in Nigeria, e.g. etisalat, mtn, etc, don't they get their forex from their home countries?... So what exactly is the big deal about Dangote getting forex from the CBN to set-up a plant in congo which would return forex to Nigeria?.... Besides, as at the time he got the forex from CBN, we didn't have the large disparity between official and parallel market rates, so what's the biggie? As for the case of Dangote building this road, I dont think I have any problem with this. I do not pass this road, but I'm sure there are hundreds of thousands who pass through this road on a daily basis who would be exceedingly happy with this development. I can bet you, if we allow the FG to take those taxes and fix that road, the road might remain the way it is for the next 10 years. We need to undeerstand that we have irresponsible leadership in Nigeria and anything to bring ensure infrastructural development, be it toll gates or tax incentives would be beneficial to the masses. On this one, it's not about what is right, it's rather about what is necessary. 1 Like |
Re: FEC Approves Tax Incentives For Dangote by montelik(m): 9:33pm On May 18, 2016 |
2n2k:Dangote cement have been enjoying pioneer status since 2008, only recently did some of their production lines begin to suffer tax. Apparently with this new deal, their no tax status has been restored in a way. |
Re: FEC Approves Tax Incentives For Dangote by gabbytabby: 9:33pm On May 18, 2016 |
freshdude99:I have read a couple of your posts and your idea of common sense is laughable. fresher with a substandard education. |
Re: FEC Approves Tax Incentives For Dangote by freshdude99(m): 9:37pm On May 18, 2016 |
Aseneshii:You have a very very low knowledge of history bro, how much was cement before? And was it not dangote and objs conspiracy that led to ban on ibeto who was then a major competitor and even a cheaper substitute. That ban gave dangote almost 98% of the market. The next we saw was price moved to #800, #1000, #1500 and so on Brother the more we look the less we see. 2 Likes |
Re: FEC Approves Tax Incentives For Dangote by OlujobaSamuel: 9:38pm On May 18, 2016 |
saintdennis:true sha, Fowler no dey smile, the love money die. 1 Like |
Re: FEC Approves Tax Incentives For Dangote by modath(f): 9:40pm On May 18, 2016 |
obailala: I agree, I'm not objecting like it's coming across, i just feel that 30% is sorta high, maybe 10%.... &i have a personal stake in that road, as a SWerner who lives in FCT, it would so delight me... 1 Like |
Re: FEC Approves Tax Incentives For Dangote by ColeworldMD(m): 9:41pm On May 18, 2016 |
Aseneshii:who's talking about sentiments here. And stop putting words in my mouth. If u can't comprehend what I wrote don't quote me. |
Re: FEC Approves Tax Incentives For Dangote by sasifo(m): 9:47pm On May 18, 2016 |
Nothing new about it. It was initiated by the last administration. |
Re: FEC Approves Tax Incentives For Dangote by COMPAQ(m): 9:49pm On May 18, 2016 |
freshdude99: Cement at N800 when naira was 150 to a dollar and at N1, 100 now that dollar is 330 is not the same. In my view, without Dangote cement would be costing much more now. His massive capacity is keeping the price down. What I'd love Dangote to get involved in now is power, because the guy doesn't do anything on a small scale. The other Nigerian businessmen are lazy. They prefer easy import business. And it's a factor with all Nigerians. All we do is buy from US, UK, China, Turkey, Dubai and come and sell. Nobody makes anything in Nigeria. Dangote is enjoying the superior reward for his greater risk. 4 Likes 3 Shares |
Re: FEC Approves Tax Incentives For Dangote by obailala(m): 9:53pm On May 18, 2016 |
modath:Well, we don't know the full details of the agreement; we dont know how long the tax relief is for and we don't know if it applies to only this particular Dangote business or all his businesses. 1 Like |
Re: FEC Approves Tax Incentives For Dangote by vigasimple(m): 9:59pm On May 18, 2016 |
DropShot: GBAM. Thank you. You nailed it. Majority of Nigerians generally are mentally lazy. They don't ask good questions. Dangote has exploited this country simply because the North will always back him but if the person involved is a southerner, then he will write epistle. This country unbeknown to the Southerners is the Federal Republic of Northern Naijeyira. |
Re: FEC Approves Tax Incentives For Dangote by freshdude99(m): 9:59pm On May 18, 2016 |
COMPAQ:The reverse should be the case bro, after selling most of the state owned cement factory to dangote and with the market share he controls, cement in Nigeria should be way way cheaper. Its just like saying cost of dstv subscription in SA and Nigeria or call rates in SA and Nigeria. SA is far cheaper. And for ur information dangote is not the only entrepreneur producing in Nigeria, over there in SW and SE there are alot of them but probably don't enjoy same favour as dangote does with FG. Í think the humble fellow is damn lucky tho every investment banker is lucky so long as he makes more money for his cronies and keep their money safe |
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